look news india
The World Gold Council (WGC) has speculated that gold prices are likely to fall in view of changes in global market, strengthening of dollars and changes in investors’ perception. Experts say that the price of gold, which is currently about 1 lakh rupees per ounce, is likely to be between Rs 50,000 and 70,000 in the coming days.
Recently, geopolitical and political stresses worldwide have reduced to some extent. With clear changes in areas such as Russia-Ukraine and Middle East, gold demand in the form of safe investment is likely to decrease. There is also a possibility that business agreements and economic pressure may reduce the enthusiasm of investors towards gold.
Along with the strong US dollar, the growing yield on the American Treasury Bond has also attracted investors to the gold option. This has reduced the demand for gold in the international market, which has directly affected gold prices.
In recent times, the central banks, who are increasing their gold reserves, are now retreating slightly. The decline in gold demand is clearly visible due to reduced shopping. Also, the feeling of purchasing of retail investors is also slowing down. This is affecting prices.
Experts believe that gold prices are expected to be between Rs 50,000 to 70,000 per tonne in the current situation. However, it should be considered temporary. Traditional interest and respect for gold in India shows that gold prices are likely to rise again.
However, experts say it is not risky to invest in gold due to only fall in prices. Despite the prices of prices, experts believe that gold is a safe investment in the long term. He says that in view of the mentality of Indians who buy gold as a symbol of weddings, festivals and wealth, the demand for gold will never be reduced.